GBP/USD Rebounded

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Price increased in the morning, but failed to reach and retest the 250% Fibonacci line. Technically is should drop further on the short term after the failure to stabilize above the 250% level. It could come down to retest the SL of the major descending pitchfork and could move in range on the short term before we’ll see what will happen on the USDX.

Multibank Exchange Group (MEX Group) is a multinational financial derivatives dealer. Established in California in 2005, MEX has offices in several countries around the world, including the US, the UK, Australia and China. Mex Group is regulated by the Australian Securities and Investment Commission (ASIC) in Australia, the Ras al Khaimah Free Trade Zone (RAK) in the United Arab Emirates and the Financial Services Commission (FSC) in the British Virgin Islands.